5 Step Lead Conversion System

5-Step Lead Conversion System

Treat these leads like GOLD and follow the system! This works with any lead you get from any source. These could be cold leads or warm leads (referrals from your family, friends, etc.) This system is based on internet leads, but it works for any type of lead!

What you’re about to read WORKS! IT’S RELATIONSHIP MARKETING!

It does not matter how many leads you generate if you don’t have a systematic approach to working them.

The lead conversion process is broken down into 5 simple steps:

Get them on the phone live ASAP.

Meet with them face to face.

Show them home.

Write an offer.

Close the deal once the offer is accepted.

The purpose of these five steps is to show you how easy it is to move a lead through the sales process if you focus your efforts on accomplishing 5 small goals.

Imagine each conversion steps as a percentage. As you move from Live Contact to Writing Offers, the goal is to keep the percentage at 100%. If you keep the first couple of steps around 100% each, the remaining steps get easier and the number of closing increase dramatically.

Look over each of the following examples …

100 Leads * 100% * 50% * 50% * 50% = 12 Closings

100 Leads * 100% * 100% * 50% * 50% = 25 Closings

100 Leads * 100% *100% * 100% * 50% = 50 Closings

100 Leads * 100% * 100% * 100% * 100% = 100 Closings

(Closings assume you generate 150 leads per month with these percentages)

No Contact → Live Contact = 80%

Live Contact → Face to Face Appointment = 20%

Face to Face Appointment → Showing Homes = 75%

Showing Homes → Pending = 75%

Pending → Closed = 90%

Number of transactions per month = 12

Now assume you generate 150 leads per month with these percentages:

No Contact → Live Contact = 20%

Live Contact → Face to Face Appointment = 20%

Face to Face Appointment → Showing Homes = 75%

Showing Homes → Pending = 75%

Pending → Closed = 90%

Number of transactions per month = 3

You can begin to see just how important the very first step becomes.

CALL EVERY SINGLE LEAD YOU GET WITHIN 15 MINUTES!!!

Prospects are searching the internet. If you don’t get them quickly, the next site they give their information to will, and you will lose them forever. Making the initial live contact is the most important piece of this equation.

You need to make your first attempt at calling them within 15 minutes, unless of course, it’s before 8 am or after 8 pm. On Sunday, I wait until 10am.

There are three reasons for this:

First, there is a good chance they are just beginning their home search and you could be the first agent they speak to. If this is the case, you have just increased your chance of becoming their agent of choice by 80%, or more!

Secondly, if you wait, you risk the chance of not being able to reach them on the phone, and ever if you do, they won’t remember that they even gave you their information.

Thirdly, there’s a good chance they could still be on your site searching for homes when you call. Imagine the impact that makes on your potential client when you call them to offer your undying loyalty and support and they are still looking at the home of their dreams.

Here is the phone script I use. Don’t change it, it works!

When they answer the phone, you say, “Hello, this is _______. You were on my website searching for homes. What time of home are you searching for?” and then be quiet.

This is all about them, not you. They don’t need to know what company you work for, or anything else about you! This is all about them!!!! Your only goal is to ask open-ended questions so you can learn all about them, their family, their plans and their dream home.

The first call should last NO MORE THAN 5 MINUTES!

Step 2 – Schedule a Face to Face Appointment

Now that you have gotten to know them a little bit and what their interests are, let them know that you are serious about helping them.

This is the hardest step, and more like an art form. That why it’s so important to listen to the client and build rapport and trust from the very first sentence.

Remember, you are an anonymous real estate agent from the internet to these people. Until you meet them face to face, you are just a random agent looking for their business. They need to know who you are, what you look like and how you present and handle yourself. If you never meet them face to face, you will never sell them a house – ever (unless they’re an out of state investor).

You need to make it very clear to them how important it is for you to meet in person to further discuss their needs. If they won’t commit to meet you in person, they are passively telling you they are not a serious buyer.

You only want to work with a serious buyer. You will need to learn how to keep them, but not work with them right now.

When scheduling a time and place to meet, make sure you are flexible, yet firm with your client. You are giving these people your time, expertise and commitment to helping them. You are a professional, and your time is just as valuable as anyone else’s. Pick a public place for your meeting and be sure and let someone know where you are going and who you are meeting. This meeting should be no longer than one hour. This is your chance to educate them on the buying process. Make sure you are prepared and you have brought a buyer’s book with you for them!

During your face to face meeting, just remember, your only goal is to schedule a time to go show homes. If you can’t set a time to go see homes, you are wasting your time.

No matter what your product or market – IF YOU GIVE SOMETHING – GET SOMETHING!

If you give them your time, energy and expertise as a professional, a commitment to show homes is not too much to ask for from them. YOU’VE EARNED THAT! Whether they say “yes” or “no” you have an answer to the question, “Is this a waste of time?” Remember, every NO gets you closer to a YES!

Step 3 – Showing Homes

Many people are truly afraid of the home buying process. They want to own a home, but are scare to death of the commitment.

Find a home that fits their criteria, and then convince them that they to see it. More than likely it won’t be the home of their dreams, but it will get them looking at more homes and will be ready to see more homes right away.

Step 4 – Make an Offer

While you’re showing the client homes, a special event will happen the exact moment you walk into the perfect home! You’ll know it before your clients realize it, so watch their reactions.

You will be able to tell by your client’s body language, what they say to each other, the extra time they spend in the house. Once they have found this home, you do not need to show the rest of the homes on the list. CALL AND CANCEL YOUR SHOWINGS!

They may hesitate about making an offer, so your job is to explain to them that this is their new home. If they insist on seeing other homes, let them know that the homes won’t get any better; this one has everything they want. If you say, let’s see another, you will be planting a seed of doubt.

In a seller’s market, homes do not stay on the market long enough for buyers to wait. Many homes will have multiple offers if they wait.

In a buyer’s market, there will be way too many homes to show. Do not end up showing 20+ homes.

You are a professional. You need to know the buying signals of your clients and close them as soon as you can. If not, you will waste their time as well as yours. It is your fiduciary responsibility to help them buy the right home. You are not doing your job is you let the perfect home slip away.

Step 5 – Close the Deal

There are thousands of agents in our market competing for the same client. You need to stand out above the crowd.